Owning your own home

your a city

An update on my on-going saga

Asking is £X50K
Initial offer was £X25K
Second offer accepted at £X40K.
Valued by Halifax at £XK
Went back to Foxtons said, don't want to pay £40K over value.
Took it to vendor. Vendor said they have a private sale of £X10K (not involving agents)
I say let's meet in middle £X20K
Vendor comes back and would do £X30K as he needs to cover his fees and costs
I said £X25K - that's my final offer and about as much "over the value" I can wear and we're going to have to walk away from the sale if it's a no.
He's taking it to vendor....

Points to consider:

1. Private sale, is this just a bluff? To bump my "over the value" figure?
   
2. Foxtons best interest would be to sell to me otherwise they get £0 - if indeed there was a private sale.
   
3. May have to walk away.
   
4. A house, bit further away, not as nice but a v good option is £80K cheaper...
   
   

waiting....waiting....

I think it's spelled "shitty"...

just send us the link mands and stop dicking about

Opposed to a lifetime of rent coming your way?

Do Pendle work in your part of SE? We had some brief dealings with them when we were considering moving that way and they seemed pretty sound and reliable. Though that was only a fleeting thing...

Seems hard for me to believe Foxtons can do any better than anyone else, the market is the market and everything is found online/on mobile now anyway. And since transactions are public record now buyers and sellers should have a sense of what the property is worth unless it's very unusual or expensive. (I have dealt with John Payne in Greenwich and found them decent to deal with, and since they have been there many years should have a better handle on the local market than Foxtons which is new).

By all accounts Foxton's have a variety of techniques, including bussing people into unfamiliar areas and overcharging them... Discussed a couple of pages back.
They justify the 3% because they are upfront about how hard they mug people off in their sales practices, and how that translates to cash in your pocket as a seller.

We bought our current place through John Payne (Lee office) and they were great. Branch manager there is bright, knows his shit and is experienced. They're coming to do a valuation and talk turkey tomorrow.
It's all happening. For sale sign up by the end of the week I reckon.

EDIT: I should get an AIP...

I bought and sold through http://www.peterjamesestates.co.uk/ in New Cross Gate. Excellent on both occasions, think I paid 1.5% as a seller back in 2012. Rented through http://www.rocodells.co.uk/ and they were also nice so would consider as a seller. KFH seem like chancers IMO.

Private sale is almost certainly bullshit. If there's a workable alternative then make that point to the vendor and sound like you're walking away - let them chase you rather than negotiate against yourself.

Recommendations for plasterers? Not a massive job (+WjPrince have PM'd you for deets of your plasterer)

We were ready to hate the Foxtons agent when he showed up but he was sharp, had done his homework on every similar property in the area and was convincingly honest. The other agents we had visit were full-on used car salesmen and based their valuations on others in our cul-de-sac which was bullshit for many reasons.

We wouldn't buy through them though so we're massive hypocrites.

so we're massive hypocrites.

Doesn't this just make you informed consumers?

I'm scared I lose my contract and can't pay the mortgage costing me the house.

I'm scared I lose my contract so I can't pay the mortgage and costs me my house

Same here. Same situation with rent surely?

Get insurance. Or claim housing benefit.

It's actually very difficult to get repossessed unless you just bury your head in the sand. If you talk to the lender, make small payments when you can and show you're trying to resolve it it's in their interests to help. I'm aware of someone who was 10 months behind with payments and wasn't even taken to court by the lender.

As a contractor, you need to have a significant rainy day cash fund for when then happens.

Otherwise you may as well get a permie role.

I might be wrong but I thought you were doing AML?

If so its a massively buoyant market with vacancies at almost every bank.

doesnt stop me from being massively paranoid. Credit crunch i lost my job for 11 and a bit months.

If you get a mortgage that is ~what you pay in rent, then unless you lived under a hedge for those 11 months it's money you'd have to find/pay anyway surely?

^
dat

Presumably before buying a house, you have significant savings that can be used to pay rent. Afterwards, not so much.

savings.... pay rent

Does not compute